Develop a strategic plan for the company you have used throughout this course and share it with stakeholders.
Greycee
Strategicplanworkingcopy.pptxStrategic plan
STR/581
Threats And Challenges
The company is in great debt that may be difficult to implement the strategic plan.
Regulation and compliance standards in the retail industry concerning e-business.
The pressure from low-cost retailers like Walmart and Macy's.
Cost of implementing new technologies is high.
The biggest threat and challenge is the debt. The huge debt is a threat to the implementation of the strategic plan.
There are many regulations in the IT industry. The implementation of the strategy on e-business will have to go through the compliance hurdles.
2
Executing Strategic Objectives
Aligning jobs to the strategy.
Improve flow of communication to empower the employees (Franken et al., 2009).
Measuring and monitoring of performance.
The strategy has to be aligned with the jobs at the organization.
Communication should be improved to ensure the employees understand the strategy (Franken et al., 2009).
Evaluation of the strategy and performance.
3
Process Of Improvement
Changes in internal and external communication .
Identification of opportunities in workflow process.
Implementing changes for improvement like in ICT.
Monitoring and evaluating the changes.
The process o improvement requires good communication channels.
The management will have to identify the opportunities in the workflow process.
The necessary changes will be implemented and tracked to enure they are succesful.
4
Resources
Financial resources needed to reduce the debt burden.
Skills and capabilities needed to implement the strategies.
Leaders needed to guide he company during the change.
The resources include financial resources, intellectual resources, human resources, and material resources.
Financial resources will be used in reducing the debt burden.
Intellectual and human resources will help in the implementation of the strategies.
5
Utilizing Kpis
KPIs help the management focus on the big picture.
They will show whether the operations are running smoothly.
They will show the effectiveness of the changes implemented.
They ensure continuous improvement (Kang et al., 2016).
KPIs act as a guideline in the implementation of the strategies.
They ensure the strategies are effective.
They also create room for improvement (Kang et al., 2016).
6
Justification Of Recommendation
E-business model will ensure the company is able to compete with the competitors.
B2B model based on experience will give the company a competitive advantage a return to profitability.
Increase in market share as the needs of the customers are being met.
The strategies will ensure an increase in market share for the company. The company has over the last decade lost its market share.
Creation of a competitive advantage increases the revenue.
7
References
Franken, A., Edwards, C., & Lambert, R. (2009). Executing strategic change: Understanding the critical management elements that lead to success. California Management Review, 51(3), 49-73.
Harrington, H. J. (1994). Business process improvement. Association for Quality and Participation.
Kang, N., Zhao, C., Li, J., & Horst, J. A. (2016). A Hierarchical structure of key performance indicators for operation management and continuous improvement in production systems. International journal of production research, 54(21), 6333-6350.
